Pakistan International Airlines Corporation (PIA), the national flag carrier with Rs129 billion in total assets, posted loss of Rs10.1bn for the six months ended June 30, 2014 on its unconsolidated condensed interim profit and loss account.
Although deep in deficit, the loss decreased by 45pc from Rs18.4bn suffered in the corresponding six months of 2013. The airline turned out gross profit at Rs339m for the latest six months from loss of Rs2.6bn last year.
For quarter ended June 30, 2014, PIA showed loss of Rs8.1bn, down from loss of Rs9.8bn YoY, while revenue increased to Rs25.4bn, from Rs22.7bn. Exchange loss decreased to Rs370m for 2Q2014, from Rs463m same time last year.
